DXP Enterprises (DXPE) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of DXP Enterprises (NASDAQ:DXPE) from a hold rating to a buy rating in a report published on Tuesday. Zacks Investment Research currently has $41.00 price objective on the industrial products company’s stock.
According to Zacks, “DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. “
DXPE has been the topic of several other research reports. BidaskClub raised shares of DXP Enterprises from a hold rating to a buy rating in a research report on Thursday, June 21st. ValuEngine raised shares of DXP Enterprises from a hold rating to a buy rating in a research report on Wednesday, July 4th.
DXP Enterprises (NASDAQ:DXPE) last posted its earnings results on Tuesday, August 7th. The industrial products company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.36. DXP Enterprises had a net margin of 2.31% and a return on equity of 8.83%. The firm had revenue of $311.23 million for the quarter, compared to analysts’ expectations of $287.10 million. As a group, sell-side analysts expect that DXP Enterprises will post 1.5 earnings per share for the current year.
In related news, VP David C. Vinson sold 4,000 shares of DXP Enterprises stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $48.00, for a total value of $192,000.00. Following the sale, the vice president now owns 6,563 shares of the company’s stock, valued at approximately $315,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David R. Little sold 50,000 shares of DXP Enterprises stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $48.41, for a total transaction of $2,420,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,000 shares of company stock worth $2,829,250. Insiders own 9.20% of the company’s stock.
Several large investors have recently bought and sold shares of DXPE. SG Americas Securities LLC bought a new stake in shares of DXP Enterprises in the 1st quarter worth approximately $111,000. Piedmont Investment Advisors LLC bought a new stake in shares of DXP Enterprises in the 2nd quarter worth approximately $141,000. Element Capital Management LLC bought a new stake in shares of DXP Enterprises in the 1st quarter worth approximately $206,000. Barclays PLC raised its holdings in shares of DXP Enterprises by 159.9% in the 1st quarter. Barclays PLC now owns 6,495 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 3,996 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of DXP Enterprises in the 2nd quarter worth approximately $328,000. 76.76% of the stock is currently owned by institutional investors.
DXP Enterprises Company Profile
DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates through three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.
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